Officers

President:

DAVID W. MUNVES, CFA is a Divisional Managing Director in Moody's Analytics, and is in charge of the Capital Markets Research Group. The group manages and researches applications of the firm's suite of markets-based signals, principally EDF^TM (Expected Default Frequency) metrics for public firms and the Market Implied Ratings service, as well as the Capital Markets Economics group. David joined Moody's in December 2004. Prior to joining Moody's David worked for nine years in Lehman Brothers' Fixed Income Research Group in London. At Lehman he headed the European Credit Strategy Group for seven years before taking responsibility for the European Fixed Income Index Group. He began his sell side career at Kidder Peabody and PaineWebber. David also worked for 10 years at Standard & Poor's Ratings Group, where he held a variety of analytical and managerial positions in New York, Stockholm, and London. Prior to joining S&P David was a lending officer with Swiss Bank Corporation in New York. A Chartered Financial Analyst, David holds a Bachelor of Arts degree from Kenyon College and a Masters Degree in International and Public Affairs from Columbia University.

Vice President:

JOSEPH DI CENSO, CFA, CAIA was a Senior Vice President in the Global Fixed Income Strategy group at Lehman Brothers, with responsibility for formulating global asset allocation recommendations and writing daily and weekly articles for Lehman's widely followed Global Relative Value publication. In addition, Mr. Di Censo is a member of the New York Society of Security Analysts and the Society of Quantitative Analysts. For the past eight years, Mr. Di Censo has been a member of Institutional Investor's first-team for general fixed income strategy at Lehman Brothers. Mr. Di Censo graduated magna cum laude from Georgetown University's School of Foreign Service and has a master's degree in economics from the University of Pennsylvania. He holds the Chartered Financial Analyst (CFA) and Chartered Alternative Investment Analyst (CAIA) designations.

Treasurer:

JOHN ROTONDI is a Vice President and Chief Compliance Officer of Allianz Global Investors Distributors LLC, which is a distributor of the Allianz Funds, PIMCO Funds, and other products. He has worked in compliance for over 15 years, holding management positions at NASD, Merrill Lynch, and Fidelity. He has previously served with the Foreign Services Volunteer Corps, making presentations concerning risk management to Russian regulatory authorities, and the Citizen Advocacy Panel, recommending improvements in the Internal Revenue Service and income tax laws. Mr. Rotondi, who is a Certified Public Accountant, earned a BS and MBA from St. John's University.

Secretary:

MARK HOWARD, CFA recently left Barclays Capital, where he was a Managing Director and held the roles of Co-Head of Global Research and Head of Credit Analysis. Based in New York, he was responsible for the firm's global fundamental credit research team which covered investment grade, high yield, emerging market credit and assetbacked bonds. He was also jointly responsible for the firm's US credit strategy and Asian research teams. At Barclays, he was active in a range of firm-wide initiatives as a member of the firm's Management, Recruitment and Diversity committees. Prior to joining Barclays Capital in April 2004, Mr. Howard was at Lehman Brothers, where he was a Managing Director and Global Credit Strategist. In that capacity, he was responsible for the firm's high grade, high yield, emerging market and credit derivative strategy teams. He also oversaw the firm's US quantitative credit research effort, as well as its Japanese and European credit strategy teams. As an active researcher, Mr. Howard was recognised as a fixed income ‘All American' by Institutional Investor magazine eleven times, including first place rankings in seven of those years. Mr. Howard received his MBA in Finance from New York University and his bachelor's degree in Economics from Colby College. He is an Overseer of the Board of Trustees of Colby College and serves on the Finance and Investment Committees of Village Community School in New York City. Outside of work, Mr. Howard and his wife have been active supporters of institutions dedicated to children's education and women's health issues.

Members-at-Large:

RALPH DECESARE, CFA is Vice-President and Director and head of research for TD Asset Management USA, headquartered in New York. As part of the Toronto-based TD Bank Financial Group, one of the largest banks in North America, TDAM manages over US $130 billion in assets under management on behalf of pension, insurance, endowment/foundation and corporate clients, as well as for high-net worth individuals and retail mutual funds. Prior to joining TDAM, Ralph was a director of fixed income research at Merrill Lynch Investment Managers from 1990 to 2006. Responsibilities included leading a team of fixed income analysts that helped manage over $150 billion in fixed income assets including mutual funds, money market and institutional accounts. Ralph also has had two separate terms at Standard & Poor's Corp. as a debt ratings analyst, covering multiple industries including electric utilities, natural gas and financial institutions. Ralph earned an MBA in finance from Fordham University, and a B.S. in finance from the University of Arizona. Ralph is a member of the Fixed Income Analyst Society, Inc. and the New York Society of Securities Analysts. Ralph is a CFA charterholder. In his free time, Ralph is a volunteer for the Stony Brook-Millstone Watershed Association.

ALEX GOLBIN, CFA is a Managing Director at Blackrock. He is responsible for Portfolio Analytics production, data integrity, and security valuation. He also oversees risk reporting, delivery and quality control. Prior to joining Blackrock in August 2005, Mr. Golbin was Principal at Banc of America Securities, where he was responsible for index, analytics, data and pricing initiatives within the Credit Strategy group. Prior to joining BofA, he spent 11 years as a Senior Vice President with Lehman Brothers, where he managed global index development and production groups for the Lehman Brothers Global Family of Indices. As part of the #1 II-ranked team, Mr. Golbin made significant contributions towards global expansion of the Lehman Brothers index franchise. Mr. Golbin received his CFA charter in September 2004. He holds an MS degree in Computer Science from Hofstra University. Mr. Golbin is the immediate past President of FIASI for the fiscal year '08-'09.

MARK HOCHBERG has worked at BlackRock, Inc. in a variety of management, information technology and project management roles. Prior to BlackRock, Mark managed application development and system engineering teams at Credit Suisse First Boston. Mark received an S.B. in Computer Science and Engineering from M.I.T. Outside of work, Mark contributes time and effort to a number of organizations, primarily those focusing on the promotion of the sciences and performing arts, the ongoing health and prosperity of New York and Finance.

KISHLAYA PATHAK is an Associate at Finnerty Economic Consulting, LLC. He holds an M.B.A. in Finance from the University of Michigan's Ross School of Business and an M.A. in Economics from the Delhi School of Economics at the University of Delhi. Prior to joining FinnEcon, Kishlaya was a strategist at Lehman Brothers, Standard Chartered Bank and ICICI ltd. At Lehman, Kishlaya worked with the firm's Chief Fixed Income strategist to provide advice to investors on global asset allocation. The focus was on U.S. fixed income sectors, both cash and derivatives. Prior to joining business school, Kishlaya was the India Economist of Standard Chartered Bank focusing on fixed income and foreign exchange markets. He interacted extensively with investors and corporations to advise them on FX, duration, curve and spread sector exposures. At ICICI ltd, Kishlaya worked as a desk based FX strategist to develop statistical trading rules.

CHET RAGAVAN, CFA joined ING Investment Management in April 2008 as Chief Risk Officer, joining the company's Management Committee and reporting to the Chairman and Chief Executive Officer. In this role, Chet has responsibility for an integrated, company-wide platform that covers market, credit and operational risk management. Prior to joining ING, Chet served as Managing Director, co-head of the Portfolio Analytics Group for BlackRock Solutions following its merger with Merrill Lynch Investment Managers in October 2006. He began his career at Merrill Lynch in 1980 and has held a number of senior investment and risk management positions within its various subsidiaries over the next 26 years. These included Global Head of Fixed Income Research (2000 to 2006) and Head of Risk Management (1993 to 2000) within the Asset Management subsidiary, Chief Investment Strategist (1990 to 1992) for the Insurance subsidiary and Research Specialist (1985 to 1990) for the Capital Markets subsidiary. Chet has a B.B.A. in Management Science from Madurai University, and an M.B.A. in Finance from the University of Madras, both in India. He also holds an M.S. in Computer Science from the New Jersey Institute of Technology and is a Chartered Financial Analyst (CFA).

DIANE VAZZA is Managing Director and Head of Global Fixed Income Research at Standard & Poor's. Ms. Vazza has worked on Wall Street for over 25 years, holding various positions around the globe in credit research, banking and trading at Drexel Burnham Lambert, Citibank and Chase. Ms. Vazza is a past President of FIASI for the fiscal year '04-'05

MARIAROSA VERDE is a Managing Director and Head of Credit Market Research in the Credit Policy group at Fitch Ratings. Her research responsibilities include examining rating and credit quality trends, conducting corporate and structured finance default and recovery studies, and commenting on developments in the loan and bond markets. Mariarosa has published articles on default risk and other credit topics in professional magazines and books. Credit Market Research data and analysis is often cited in national and trade publications. Prior to joining Fitch, Mariarosa worked as high yield analyst at The Chase Manhattan Bank. Earlier at Chase, she formulated business plans, analyzed profitability and prepared financial statements for the bank's corporate lending business units. Mariarosa completed Chase's corporate credit training program. Mariarosa earned a BS and an MBA, magna cum laude, in finance and economics from New York University's Stern School of Business. She was elected an NYU Scholar and a member of Beta Gamma Sigma. Ms. Verde is a past President of FIASI for the fiscal year '07-‘08